MIMBT
Form
CRS
Form CRS
provides information concerning the services offered by Delaware Capital Management (DCM),
describes
associated fees and costs, and conflicts of interest that might affect DCM.
Investing involves risks, including the possible loss of principal.
Carefully consider the Fund’s investment objectives, risk factors, charges,
and
expenses before investing. This and other information can be found in the Fund’s prospectus and its
summary prospectus, which may be obtained by visiting delawarefunds.com/literature or calling 877
693-3546. Investors should read the prospectus and the summary prospectus carefully before
investing.
The information in this document is not, and should not be construed as, an
advertisement, an invitation, an offer, a solicitation of an offer or a recommendation to
participate
in any investment strategy or take any other action, including to buy or sell any product or
security
or offer any banking or financial service or facility in any jurisdiction where it would be
unlawful
to do so. This document has been prepared without taking into account any person's objectives,
financial situation or needs. Recipients should not construe the contents of this document as
financial, investment or other advice. It should not be relied on in making any investment
decision.
Recipients should not construe the contents of this presentation as tax advice.
Macquarie Asset Management is not in the business of providing tax services.
Fixed income securities and bond funds can lose value, and investors can lose
principal, as interest rates rise. They also may be affected by economic conditions that hinder an
issuer’s ability to make interest and principal payments on its debt.
Investments in small and/or medium-sized companies typically exhibit greater
risk
and higher volatility than larger, more established companies.
Because the strategy expects to hold a concentrated portfolio of a limited
number
of securities, the strategy’s risk is increased because each investment will have a greater effect
on
the strategy’s overall performance. Diversification may not protect against market risk.
Duration measures a bond’s sensitivity to interest rates, by indicating the
approximate percentage of change in a bond or bond fund’s price given a 1% change in interest
rates.
Duration number will change as market conditions change. Therefore, duration should not be solely
relied upon to indicate a municipal bond fund’s potential volatility.
Investing in ADRs may have some limitations for investors such as the absence of
voting rights. International investments entail risks not ordinarily associated with US investments
including fluctuation in currency values, differences in accounting principles, or economic or
political instability in other nations.
The information presented is available for financial professional and managed
account client use only. It is not intended and should not be construed to be a presentation of
information for any mutual fund.
Macquarie Asset Management (MAM) is the asset management division of Macquarie
Group. MAM is an integrated asset manager across public and private markets offering a diverse
range
of capabilities, including real assets, real estate, credit, equities and multi-asset solutions.
Macquarie Group refers to Macquarie Group Limited and its subsidiaries and affiliates worldwide.
Delaware Funds by Macquarie refers to certain investment solutions that MAM distributes, offers, or
advises. Investment advisory services are provided to the Delaware Funds by Delaware Management
Company, a series of Macquarie Investment Management Business Trust (MIMBT), a Securities and
Exchange
Commission (SEC) registered investment adviser. The Delaware Funds are distributed by Delaware
Distributors, L.P., a registered broker/dealer and member of the Financial Industry Regulatory
Authority (FINRA) and an affiliate of MIMBT.
Separately managed account advisory services are provided by Delaware Capital
Management (DCM), a series of MIMBT.
Other than Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”),
any
Macquarie Group entity noted in this document is not an authorised deposit-taking institution for
the
purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other
Macquarie
Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank
does
not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie
Group entities. In addition, if this document relates to an investment, (a) the investor is subject
to
investment risk including possible delays in repayment and loss of income and principal invested
and
(b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of
return on or the performance of the investment, nor do they guarantee repayment of capital in
respect
of the investment.